Can Congress go 44 days without piling on more debt?

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The national debt is on track to exceed record levels in the next few years. Inflation is at a 40-year high. We need to put in place a balanced, bipartisan debt-reduction plan to slow inflation, bring down the debt, and promote long-term economic growth – around $7 trillion in savings would be enough to keep the debt from growing out of control. 

But given that the two parties are at each other’s throats and can barely agree on anything, let alone anything as hard as finding trillions of dollars in spending cuts and tax increases, that seems unlikely to happen anytime soon.  

So how about we start with baby steps: what if members of Congress and the president agreed to no new borrowing for the rest of 2022. It’s just a mere 45 days. 

INFLATION HITS HOLIDAY SEASON: TOY MAKERS UNVEIL SMALLER ITEMS PRICED BELOW $10 AS FAMILIES STRUGGLE

The national debt has exploded over the last few years, rising from about 80% of the economy in 2019 to 97% today. Under current law, we estimate it will grow further to 116% of output – 10 percentage points above the previous record set after World War

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